Analyst Tackles Sandy's Impact on CMBS Market

Analyst Tackles Sandy's Impact on CMBS Market

Fitch Ratings is collecting preliminary data so that it can evaluate the impact of Hurricane Sandy on the commercial mortgage-backed securities market.

While it may take considerable time to compile a full list of damaged real estate, Fitch says CMBS defaults could mount quickly. Because most commercial property carries windstorm, business interruption, property, and even flood insurance, it does not anticipate major ratings actions, however.